ENC Realty Inc



______

______
Why Rent-to-Own?

1. Ownership of your home!
2. No massive up-front down payment! $1000 + Rent moves you in!
3. No option fees! 100% of all deposits credited to your down payment!
4. Rents & sales prices based on current market rents and sales, not projected values!
5. $100 monthly credits, just for paying your rent on time and handling minor maintenance!
6. We'll reimburse you for 3 months of legal credit repair!
7. Seller assistance at closing if needed!
How Does Rent-to-Own Work?

1. You apply to our rent-to-own program.
2. You rent the house.
3. We help you repair your credit.
4. Your security deposits and other credits build into a sizable down payment.
5. Your on-time rental payment history of one year or more makes you look good to lenders.
6. We help you get a mortgage on the house.
7. You cease to be a renter, and instead become a home owner!
Do I Need Good Credit?

No! We don't care about your credit scores. We will verify your employment, rental history, and check your criminal history, in order to guage your risk, decide on any additional security deposit requirements, and to ensure we do not introduce criminals into the community.
How Much is the Deposit?

Your initial deposit is only $1000!

This will take the property off the market for up to 2 weeks, while we verify your employment, check your rental history, and check your criminal history. Once we have accepted your application, it's just a matter of paying your first month's rent to move in.

$50 of the deposit is a non-refundable application fee. If your application is rejected, or you choose not to rent the property after your application has been processed, $450 will be refunded to you at the address listed on your application.
When Do I Start Owning the House?

Your initial deposit is the first step towards owning the house!

The initial deposit, security deposits, and maintenance/on-time payment credits are all placed into an account, specific to your property, and when you buy the property, it is all credited as a cash down-payment at closing!
Is There Any Way to Get Cheaper Rent?

No. The rents we advertise include a $100/MO credit for paying your rent on time and taking care of minor maintenance (changing your A/C filters, changing smoke detector batteries, etc)! Obviously, we'll take care of major repairs, like a broken A/C or hot water heater.
How is this Different from a Lease-Option?

Rent-to-Own is nothing more than renting a house then buying it later, with the rental security deposit returned to the renter in the form of a down-payment credit at closing. There is no explicit linking of the rental agreement and the purchase agreement, like in a lease-option. The renter merely expresses intent to buy the property at a later date, and that the seller expresses intends to sell it to them. However, at any point during the rental period, the renter may lock-in a purchase price by signing a purchase contract and putting down earnest money, which is a non-refundable deposit, credited to the buyer upon buying the property.

The seller typically gets a larger than average security deposit, as it is intended to force the renter to build a cash reserve for use as a down-payment at closing. Additionally, the seller gets tenants who will take better care of the property than regular renters, because they are more likely to view the property as theirs.

The tenant-buyer gets to rent the house until they are ready to buy it, without losing any money as an option fee.

While popular in most states, lease options are all-but illegal in Texas. Texas laws restrict lease-options to six months and impose extreme fines on the seller for failure to transfer title to buyer in that time. While this was done to 'protect' buyers from unscrupulous sellers, it effectively outlawed one of the few home-buying tools available to people who lack the down payment and/or credit to buy now, but who anticipate being able to within the next few years. This is why the rent-to-own program was created. To help people get a house, in spite of ill-conceived legislation.







Encompass Strategies LLC is a real estate investment company.
© 2008 Encompass Strategies LLC. All Rights Reserved.